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185. Largest LBO Ever: EA vs. TXU, What the Govt. Shutdown Means for Markets, & Why We Should Ditch the Fed Funds Rate
Send us Fan Mail Two days into a government shutdown, we break down what it actually means for markets when key data go dark—like today’s missing non-farm payrolls—and how that uncertainty can ricochet through trading desks, air travel, the SEC/IPO pipeline, and year-end seasonals. We walk through the historical playbook (rates, dollar, risk) and how we’re thinking about positioning when the Fed is flying with fewer instruments. Then we unpack the freshly announced largest-ever LBO and stack it up against 2007’s TXU: equity checks vs. leverage, private credit’s outsized role, and why a…
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